Deals

Find out who’s buying, who’s selling and what is being sold. Get detailed information on the structures involved in secondaries deals, including LP portfolio sales, GP-led processes, spin-outs, restructurings and stapled deals.

A fire extinguisher sign on a white wall

ICG explores single-asset continuation fund for fire protection asset

ICG and Kirkbi A/S acquired Minimax in 2014 with ICG and co-investors acquiring Kirkbi's stake in 2018.

Coller, Ardian and Glendower emerge as backers of Permira’s multi-asset deal

Permira is moving five assets into a continuation fund including US customer experience solutions provider Genesys, which was previously part of a continuation fund transaction in 2020.

Goldman PE group runs big single-asset process on healthcare business

While demand among GPs for liquidity options to pay back LPs in older funds is strong, the limiting factor is the relatively small pool of capital available for such deals.
Students

CVC seeks single-asset continuation fund for Italian university group

The buyout giant initially backed Multiversity in 2019 before acquiring 100% of the online university group in 2021.

Adams Street, Barings, Kline Hill co-lead on transportation asset CV

The deal involves transferring an asset to a continuation fund managed by TRP Capital, a lower mid-market player with no prior engagement in GP-led secondaries.
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Vestar seeks liquidity from Circana investment in $1bn-plus single-asset deal

GP-led deals represented about 44% of the approximately $109bn in total volume last year, with single-asset transactions representing the majority of such deals.
Impact dollars

Blue Earth plans secondaries impact strategy, inks portfolio acquisition

Blue Earth’s secondaries strategy – part of its soon-to-launch multi-strategy fund – has just acquired a portfolio of fund stakes from a UK development finance institution.
Pair of red skis crossed and wedged in snow on mountain

KSL Capital sees strong growth ahead after $3bn Alterra single-asset deal

The Morgan Stanley-advised process on ski resort Alterra Mountain was backed by investors understood to include Singapore's GIC.
A scientist using a microscope

Astorg seeks €1bn-plus continuation fund for ‘TIC’ industry asset

The firm has previously tapped the secondaries market to run a €1.3bn single-asset process on investor administration group IQ-EQ.
Photo illustration of a big payday.

StepStone buys in VC strip sale with double unicorn exposure

Primary Venture Partners ran the secondaries process to generate liquidity for limited partners in its first fund.
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